Capital gains on immovable property
This query is : Resolved
17 March 2016
in case of purchase of two consecutive immovable property as a one property from same seller and purchased by two individuals assesses (relatives) jointly.can the payment be made by any one of the assesses to the seller account or payment should be made to seller proportionally from their respective accounts??
17 March 2016
Advisable to pay proportionally from the respective buyer's account.
17 March 2016
but sir is there will b any difference if paid in one account because ultimately they can transfer the amount in each others account and as they are relatives so it shall be treated as giftam i right?
Soumitra Basu
(Expert)
24 March 2016
If one party transfer the amount to the other party proportionately that will not amount to gift but repayment of obligation.
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